Q&A: Mandlenkosi Ncube shares how Edge helps him and his clients
Ncube Advisory needs to have direct access to the client’s banking information to provide excellent, efficient service to their clients. This is addressed through Standard Bank’s offering for accountants called Edge.
You studied philosophy – an interesting choice for someone who’s now an accountant. Tell us about that?
At the time, I wanted to become a priest, so I studied philosophy and theology at St. Joseph’s Theological Institute in KwaZulu-Natal. Although I never became a priest, philosophy is very beneficial in my work. Aspects of it, like ethics and virtue ethics, are very much needed when you look at business today.
I switched in 2011 and went to study applied accounting. But it’s my grounding in philosophy that made me say, I’m going to run an ethical business, no matter the cost.
Now you wear more than an accountant’s hat. Tell us about Ncube Investment Holdings?
There are three business units and Ncube Investment Holdings is the holding company. Ncube Advisory is an accounting and tax advisory firm. We’re based in Sandown and most of our clients are in Johannesburg, with a few in KwaZulu-Natal.
Then there’s Ncube Construction that, as the name says, operates in the construction sector, and Mazilankatha Ranch, which has farms in South Africa and Zimbabwe. It’s a family business and we provide non-GMO beef and lamb raised on a 100% organic diet to customers all over the world.
As an accountant and tax practitioner, my focus is on Ncube Advisory and our accounting clients.
Do you use Standard Bank’s business banking services for all your companies?
At the moment it’s only for the accounting business. When I started the practice in 2015, I had just left formal employment and it was mainly about banking fees. I looked at three banks before choosing Standard Bank for the accounting side of the business.
That’s eight years you’ve been with them. Has anything changed in that time?
The introduction of Edge was a game-changer. That and having access to swift and efficient service. Right now, I have my relationship manager on speed dial for Edge. If I send an email, I’m sure to get an answer within an hour, or even a call. The Edge platform has enhanced their business banking compared to other banks. It’s phenomenal. We don’t get it anywhere else.
Is there a specific function on Edge that you use more than others?
We do management accounts on a monthly basis for our clients, and I can get any documents I need directly from the bank; I don’t have to wait for the client to first go and find them. That is very efficient, plus the quick resolution of client queries.
Our clients value these services because they want to focus on their own core businesses. They don’t want to worry about getting documents from the bank. Now they know their accountant can deal with almost all their bank-related admin, even opening an account.
On a scale of one to 10, how much do you rely on your relationship manager?
I’d say eight if 10 is 100%. This week I spoke to them three or four times.
Right now, I’m thinking of moving the other businesses to Standard Bank too so that everything is in one portfolio. But even now, they help me when there’s a glitch on those other accounts. Yesterday I had transferred money from the construction company to my personal account, which is with another bank. That bank was having technical problems and the person at Standard Bank sorted it out for me. So, I’m getting exceptional service.
I really must commend the team. I like how they respond. They’re fast and they’re efficient. When they don’t know the answer, they go and find the answer and solution for you. They’ve even brought me new business. I may be biased, but I’ve not had this from other banks.
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